Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Resources Victoria Conference (August 2008)
23 slides from Bass Oil's conference presentation, Aug 26, 2008
Slide 1: Bass Strait Oil for Australians
BASS STRAIT Ok Oil for Australians
Slide 2: Oil for Australians
“OIL FOR AUSTRALIANS” For personal use only • Australia's crude oil and condensate production has declined, from nearly 100% of Australia's needs in 2000, to just over 60% today. • Without significant new discoveries, it will decline to an anticipated 32% by 2017. • In dollar terms, from a of $900 m
Slide 3: Permit interests: Gippsland, Bass, Otway
For personal use only Gippsland VIC/P41 – 45% operator VIC/P42 – 20% VIC/P47 – 40% operator Bass T/42P & T/43P – 100% operator Otway PEP167 – 100% operator PEP150 – farmin right to 15%
Slide 4: BAS Acreage Overview
BAS ACREAGE OVERVIEW BALANCED PORTFOLIO of OPPORTUNITIES: APPRAISAL thru FRONTIER For personal use only ¾ OFFSHORE GIPPSLAND VIC/P41, VIC/P42 & VIC/P47 GAS APPRAISAL plus 3D DEFINED EXPLORATION Proven world class basin with high quality 3D seismic data High impact oil exploration plays – prospects w
Slide 5: Directors and Management
DIRECTORS AND MANAGEMENT For personal use only – Bernard Wheelahan, Chairman – Chairman of Pacific Hydro, Deputy Chairman Transfield Services Ltd, former Shell senior executive – Andrew Adams, Managing Director – BSc, MBA, former Amoco Canada and Santos executive, member of APPEA Exploration Committ
Slide 6: BAS Gippsland Basin 3D Seismic Investment
BAS GIPPSLAND BASIN 3D SEISMIC INVESTMENT For personal use only Over 7000 sq km of 3D data on BAS interpretation system Approximately 2000 sq km of proprietary 3D data 500 sq km Vic/P42 Marie 3D acquired April 2007
Slide 7: Exploration Activity in SE Australia
EXPLORATION ACTIVITY IN SE AUSTRALIA For personal use only
Slide 8: VIC/P47: Judith-1 Gas Discovery
VIC/P47: JUDITH-1 GAS DISCOVERY For personal use only JUDITH-1 SUMMARY ¾ Drilled by Shell in 1989 on 2D seismic ¾ Log interpreted 135m net Emperor subgroup gas pay ¾ Now 3D seismic covered ¾ Was not tested, limited logs ¾ Reservoir upgraded by Longtom gas appraisal - will be first commercial develop
Slide 9: Independent Resource Certification
INDEPENDENT RESOURCE CERTIFICATION Gaffney Cline Associates For personal use only AREAL DISTRIBUTION OF GCA JUDITH GAS RESOURCES GIIP bcf EUR bcf Low Best High Low Best High Judith-1 Contingent 87.8 298.1 1245.6 48.3 193.7 934.2 TDS-1 Prospective 24.3 156.8 479.7 13.3 101.9 359.8 Judith South Prospe
Slide 10: Judith-1: Well - Seismic Tie
JUDITH-1: WELL - SEISMIC TIE For personal use only Judith-1 JUDITH -1 Mapped five events tied to sand tops and bases
Slide 11: Judith S/Judith Block - Traverse: NE to SW
JUDITH S/JUDITH BLOCK - TRAVERSE: NE TO SW Judith South Judith Area WSW ENE For personal use only Judith-1
Slide 12: VIC/P41 Prospects and Leads
VIC/P41 PROSPECTS AND LEADS – BAS 45% and operator For personal use only 3D defined, high impact prospects, ready to drill Kipling, analogous to Kipper field P50: 124 MMbbls +620 Bcf Benchley, GB and Halibut targets P50: 184 MMbbls + 1.4 Tcf Oscar, analogous to Basker/Manta P50 combined total - 40
Slide 13: VIC/P41: Deep Water Leads - Eastern Area
VIC/P41: DEEP WATER LEADS – EASTERN AREA For personal use only S LEAD A N Golden Beach feature New seismic control acquired in June 2008 Potentially large structure Lies in ca 600 metres water
Slide 14: VIC/P42 Prospects & Leads
VIC/P42 PROSPECTS & LEADS - BAS 20% For personal use only New and reprocessed 3D seismic dataset Apache to review new opportunities, including SE Tarra ZaneGrey and Omeo discoveries
Slide 15: Apache Gippsland Acreage
APACHE GIPPSLAND ACREAGE For personal use only
Slide 16: Onshore Otway Basin - BAS Acreage
ONSHORE OTWAY BASIN – BAS ACREAGE For personal use only • Excellent access and infrastructure in onshore Otway indicates good economics for oil development • BAS 100% in PEP 167, contains Windermere-1 oil discovery • BAS 15% farmin interest to PEP150 - contains Lindon oil discovery (permit pending n
Slide 17: Otway Basin: PEP167, Windermere-1 Oil
OTWAY BASIN: PEP167, WINDERMERE-1 OIL For personal use only Windermere-1: ¾ drilled in 1987 ¾ recovered 32 bbls oils on test Windermere-2 drilled in 1989, dry, separated by fault Technical studies completed ¾ Seismic data reprocessing ¾ Reservoir engineering review ¾ Petrophysics ¾ Remapping Follow
Slide 18: PEP167 & Windermere-1 Oil Potential
PEP167 & WINDERMERE-1 OIL POTENTIAL For personal use only FORWARD WORK PROGRAMME – OPTIONS UNDER REVIEW: •Drill new Windermere appraisal well located on current seismic •Re-enter Windermere-1 well to re-evaluate •Acquire additional 2D seismic data •Acquire 3D seismic data focused on the Windermere o
Slide 19: Bass Basin Acreage
BASS BASIN ACREAGE – BAS 100% and operator For personal use only T/42P & T/43P - total 6,120 sq km capturing much of the Durroon Sub basin play Under explored area with one well, limited 2D seismic. New 2D seismic in June 2008. Basin is now fully permitted, drilling planned in adjacent areas i
Slide 20: Bass Basin Acreage - Regional Setting
BASS BASIN ACREAGE – REGIONAL SETTING For personal use only Evaluation focus on petroleum system plus mapping available 2D seismic Major NW/SE structure evident on depth to basement map Untested source “kitchens” identified Presence of reservoirs and access to hydrocarbon charge probable bas
Slide 21: Bass Basin Acreage - Seismic Mapping Results
BASS BASIN ACREAGE – BAS 100% and operator For personal use only Seismic mapping results to date: Chat-1 and Durroon-1 wells considered invalid tests Several large structural leads identified at 3 stratigraphic levels 1192 km 2D seismic recorded June 2008 to mature the leads
Slide 22: Clear Exploration Focus on Southeast Australia
BASS STI IT Clear Exploration Focus on Southeast Australia r Strong permit position; excellent leverage to high-impact discovery potential. @ Coherent, focussed Portfolio across three productive basins. @ New round of industry activity underway in the region. t Offshore drilling and seismic operatio
Slide 23: Disclaimer
DISCLAIMER For personal use only This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of providing general information about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the
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